NatWest has bought back shares worth £1bn from the UK government, as the privatisation of the bailed-out bank continues after a plan to offer a chunk of the stock to retail investors was abandoned.
The government and NatWest said on Monday that the Treasury’s holding will drop from 14.2% to 11.4%, after the sale of shares at a price of about £3.81, the bank’s closing price on Friday.
